Jan 13, 2021 06:50 UTC
| Updated:
Jan 13, 2021 at 06:50 UTC
By Clark
Billionaire Shark Tank investor Mark Cuban realizes cryptocurrency ‘exactly’ similar to the dot-com bubble. He states BTC & some other cryptocurrencies are similar to those dot-com stocks, like Amazon & eBay that lived the bubble burst & thrived.
Mark Cuban Likens Crypto to Dot-Com Bubble
Shark Tank star Mark Cuban likened what he senses is a bubble in BTC to the dot-com bubble on Mon. afterward the price of the cryptocurrency removed a nosedive. Dallas Mavericks tweeted the owner of the National Basketball Associations:
Viewing the cryptos trade, it is precisely like the internet stock bubble. Accurately. I think BTC, ETH, some others will be similar to those that were built throughout the dot-com era, lived the bubble bursting, & thrived, like eBay, AMZN, & Priceline. Numerous won’t.
‘Along with the method, numerous fortunes will be made & misplaced & we find out who has the stomach to hold & who does not. My guidance? Learn how to hedgerow,’ he expounded.
At the time of writing, his tweet has gathered 895 comments. It has also been retweeted over 1.7K times & liked more than 10.8K times. Numerous people on Twitter view Cuban’s statement as bullish for BTC & ETH.
Among the commenters was Tyler Winklevoss, co-founder of Gemini cryptocurrency exchange, who contended that cryptocurrencies are not like stocks. ‘Wrong. Cryptos like BTC & ETH are networks, they are certainly not stocks or shares of a company. They are like possessing a piece of the initial Internet. Likening them to stocks is an apple to oranges contrast,’ he clarified to Cuban. After deliberating BTC as a store of value, the Shark Tank star repeated his stance:
I held Bitcoin is like gold, it is a store of worth with no other utility. In the slightest, I can eat bananas.
Gold bug Peter Schiff chimed in, significant Cuban: ‘Mark, you cannot store what you do not have. Gold is a store of worth as you are storing gold for future use as a metal. Jewelers will want gold, computer chip manufacturers will require gold, dentists, etc. But no one needs BTC now, so no one will necessity it in the future’
Cuban wrote in a follow-up tweet,
As throughout the dot-com bubble, ‘the experts’ stab to defend whatever the pricing of the day is. Crypto, much like gold, is a source & demand-driven. All the stories about debasement, fiat, etc are just sales pitches. The main sales pitch is scarcity vs demand. That is it.
The Gemini co-founder affected ‘The narratives around debasement of fiat are facts. Have you observed the Fed’s balance sheet lately? What’s the material with supply & demand? The value of land, a Picasso, or the Dallas Mavericks franchise are strongminded by supply & demand too,’ he said, Cuban.
Do you agree with Mark Cuban about BTC? Let us tell in the comments section lower.
Clark
Head of the technology.